Financial Issues

ACT NOW RNs
Assisted Living Placement Services

Case Management Services

HOMECARE

(520) 795-1453

(480) 626-1449

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Financial Considerations

Financial considerations must be factored in when choosing the appropriate living arrangements for a loved one. Retirement savings, Social Security, pensions, interest, assets, trusts and Veterans Benefits must be reviewed.

Payment Options

Private Pay	The individual and family pay for the housing
Long Term Care Insurance	Pays contract amount for approved facilities; individual pays any additional costs
ALTCS	Pays only for approved facilities for medical and financially eligible individuals
Reverse Mortgage	Homeowners over the age of 62 can convert home equity into cash while living at home

Arizona Long Term Care System (ALTCS)

ALTCS is Arizona's Medicaid program that provides long term care services to financially and medically eligible Arizona residents who are aged, blind, disabled, or have a developmental disability.

Financial Eligibility:

ALTCS eligibility limits an applicant's countable resources to $2,000. If an applicant has a spouse who does not live in a nursing home and does not receive ALTCS services, some of his/her resources can be "set aside" for the spouse's needs and not be counted toward the $2,000. The maximum resource allowance is $109,560 or half of their combined resources, whichever is less, but not less than $21,912. The gross monthly income which includes wages, Social Security, Supplemental Security Income, pensions, interest, and dividends can not exceed $2,022. The total gross monthly income for a married couple may not exceed $3,822. Some resources, such as a person's home, vehicle, and irrevocable burial plan generally are not counted toward the resource limit.

Medical Eligibility:

In order to be eligible for ALTCS, an individual must be substantially impaired by a medical and / or functional condition that is expected to be long-term and limits their capacity for self care. An individual may meet the medical eligibility criteria if any combination of the following is present: requires nursing care by or under the supervision of a nurse on a daily basis; requires regular medical monitoring; impaired orientation to time, place or person; needs help with activities of daily living; impaired continence; or psychosocial deficits.

How To Apply:

Download the application here or contact your local ALTCS office and ask them to send you one, fill it in and mail it back with the needed papers to the address on the application.

An AHCCCS eligibility specialist will review your application to find the program or programs that you and your family may qualify for. The eligibility specialist will send it to the right agency or AHCCCS department(s) which will decide your eligibility.

You will receive a phone call or a letter if there is anything else you need to do or send.

If you have questions or need more information about ALTCS, contact the Arizona Long Term Care office at:


	Phoenix
	(602) 417-6600


	Tucson
	(520) 205-8600

Toll Free

1-800-528-0142 then press 11

Reverse Mortgage

Many older adults wish to remain in their homes, but find it hard to cover the costs that can come with a chronic health condition. For some, using home equity to pay for help at home can be an important option.

Reverse mortgages are loans that allow homeowners aged 62 and over to convert home equity into cash while living at home for as long as they want. Borrowers continue to own their homes and do not need to make any monthly payments. Instead, they can choose to receive the funds as a lump sum, line of credit, or as monthly payments (for up to life). The loan comes due only when the last borrower moves out, dies, or sells the home.

The National Council on Aging's Use Your Home to Stay at Home™ initiative is a public-private partnership that encourages the appropriate use of home equity to help older people live at home.

As part of this effort, we are assessing cost-effective ways to use reverse mortgages to pay for long-term care. We also are developing information on reverse mortgages for seniors. The work is guided by research, consumer surveys, and discussions with partners and experts.

For more information see the discussion on the National Council of Aging's website.

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Contact Information
Telephone 520-795-1453 (Tucson)

480-626-1449 (Phoenix)
FAX 520-203-7587
Email: actnow@cox.net